June 2023
01Jun

Canadian pension fund CDPQ puts brakes on China investment – FT

Canada's second-largest pension fund Caisse de dépôt et placement du Québec (CDPQ) has stopped making private deals in China and will close its Shanghai office later this year, the Financial Times reported on Thursday, citing people familiar with the matter. CDPQ is currently leading its regional investment efforts from Singapore, the report said, adding that it still has business interests in China. "We paused private investments for some time already — and have focused on liquid markets, which is the majority...

June 1, 2023
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May 2023
22May

Canadian public pension fund investments in China draw heightened scrutiny

Investments in China by Canada's largest public pension funds are facing increased scrutiny amid worsening relations between the two countries and allegations that some of those investments are funding the oppression of China's Uyghur minority. Recently, representatives of the Ontario Teachers' Pension Plan and the British Columbia Investment Management Corporation, which manages the pensions of B.C. public sector workers, told a parliamentary committee studying Canada-China relations that they had paused new direct investment in China because of the increasing risks...

May 22, 2023
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12May

Canada. British Columbia Investment Management hits pause on China deals

British Columbia's public pension manager has paused direct investments in China, the latest institutional investor to rethink its exposure to the world's second-largest economy due to geopolitical risks. A senior executive from British Columbia Investment Management revealed the policy during testimony this week to a Canadian parliamentary committee. Ontario Teachers' Pension Plan has made a similar move, suspending new investments in private assets in China, Bloomberg reported in January. BCI still has Chinese investments, mostly through public markets and index funds,...

May 12, 2023
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April 2023
24Apr

Canada’s Biggest Pension Fund No Longer Bullish On Crypto After $95 Million FTX Wipeout

According to the Financial Times, Canada’s largest single-profession pension plan has learned its lesson after investing in crypto exchange FTX and will not be making any hasty decisions regarding future cryptocurrency investments. After losing $95 million in a now-defunct crypto exchange, the Ontario Teachers’ Pension Plan is no longer bullish on cryptocurrency investments. Several prominent funds invested in FTX between 2021 and 2022, just before the exchange’s eventual demise. Pension Plan No Longer Bullish On Crypto According to chief executive Jo Taylor,...

April 24, 2023
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March 2023
29Mar

Canada to Ask Pension Funds to Disclose Crypto Exposure

Canada's national government said federally regulated pension funds in the country will need to disclose their crypto assets exposure to the Office of the Superintendent of Financial Institutions (OSFI), as Ottawa tightens its regulatory oversight on the volatile industry. "To help protect Canadians’ retirements, Budget 2023 announces that the government will require federally regulated pension funds to disclose their crypto-asset exposures to OSFI," the government said in the new 2023 budget plan. The federal government will also work with provinces...

March 29, 2023
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27Mar

Canadian pension funds embrace ESG

Large Canadian pensions are making “impressive” progress on sustainable investments, according to the second annual Canadian Pensions Dashboard for Responsible Investing. The report examines the progress major Canadian pension funds have made in integrating ESG factors into their governance from 2020 to 2022. In just one year, the number of funds that have made public net-zero portfolio emission commitments by 2050 or sooner has grown from two to nine, which now accounts for or $1.8 trillion or 81% of total...

March 27, 2023
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02Mar

Canada Pension Plan to invest in California oil venture alongside IKAV

Canada Pension Plan Investment Board (CPP) agreed on Tuesday to buy a 49% stake in Aera Energy, a California oil venture being acquired by German asset manager IKAV from Shell (SHEL.L) and Exxon (XOM.N). The venture, California's second-largest oil and gas producer, will invest in renewable energy to eventually power its operations, the institutional investor said. "Over time, renewable power will be deployed across Aera's land holdings, while selected legacy oil and gas infrastructure will be repurposed to create carbon capture...

March 2, 2023
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February 2023
24Feb

Canada’s CDPQ is slammed by bond rout in worst year since 2008

The historic bond market rout did not spare the Caisse de Depot et Placement du Quebec, causing the pension manager to post its worst results since the global financial crisis. Canada’s second-largest public fund lost 5.6 per cent and saw net assets fall to $402 billion (US$297 billion), down $18 billion from the prior year. Its fixed-income portfolio was shredded by the rapid rise in interest rates, falling almost 15 per cent. The result would have been much worse if not...

February 24, 2023
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10Feb

Canada Pension Plan Investment Board returns net 1.9% in latest quarter

Canada Pension Plan Investment Board returned a net 1.9% in the third quarter of fiscal 2023 ended Dec. 31, the Toronto-based board announced in a news release Thursday. For the five-year and 10-year periods through Dec. 31, the fund delivered annualized net returns of 8.1% and 10%, respectively. Neither benchmark returns nor returns for individual asset classes are not provided in quarterly returns. CPPIB, which manages the assets of the Canada Pension Plan, also said the pension fund's net assets increased to...

February 10, 2023
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January 2023
20Jan

‘Voluntary action alone isn’t going to cut it’: watchdog group calls for climate reporting requirements for Canada’s $4-trillion pension fund industry

After highlighting “a huge disparity” among Canada’s largest pension funds when it comes to reporting and action on climate priorities, a watchdog group is calling for broad-based regulation for the financial sector that would “level the playing field” and require Canada’s giant pension funds to produce credible climate plans, and be held accountable for meeting them. Adam Scott, executive director of the climate-focused charitable initiative Shift, told The Hill Times that his team’s analysis shows some Canadian funds are “making...

January 20, 2023
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